Japan preliminary February PMI: Manufacturing 47.2 (prior 48.0)
Jibun Bank / S&P Global preliminary / flash PMIs for Japan, February 2024Japan manufacturing purchasing managers' index (PMI) fell to 47.2 in February from 48.0 in Januaryhas remained below the 50.0, and in contraction, for nine straight monthsproduction subindexes contracted at the fastest pace in a year due to a sharp reduction in new ordersemployment fell at the quickest pace since January 2021On Services, 52.5 in February from 53.1 in Januaryin expansionary (above 50) since September 2022Composite PMI came in at 50.3 in February from 51.5 in Januarythis combines both manufacturing and service sectorr activityComment from the report:"The Japanese private sector economy saw the slight improvement at the start of the year all but evaporate during February, as business activity broadly stagnated" "Firms were also the least upbeat since January 2023, reflecting reduced optimism with regards to future output" This article was written by Eamonn Sheridan at www.forexlive.com.
Jibun Bank / S&P Global preliminary / flash PMIs for Japan, February 2024
Japan manufacturing purchasing managers' index (PMI) fell to 47.2 in February from 48.0 in January
- has remained below the 50.0, and in contraction, for nine straight months
- production subindexes contracted at the fastest pace in a year due to a sharp reduction in new orders
- employment fell at the quickest pace since January 2021
On Services, 52.5 in February from 53.1 in January
- in expansionary (above 50) since September 2022
Composite PMI came in at 50.3 in February from 51.5 in January
- this combines both manufacturing and service sectorr activity
Comment from the report:
- "The Japanese private sector economy saw the slight improvement at the start of the year all but evaporate during February, as business activity broadly stagnated"
- "Firms were also the least upbeat since January 2023, reflecting reduced optimism with regards to future output"
